Sunny

Sunny

max temp: 22°C

min temp: 16°C

Search

British Gas and EDF Energy announce gas price cuts

PUBLISHED: 12:08 11 February 2016

British Gas and EDF have announced price cuts.

British Gas and EDF have announced price cuts.

British Gas and EDF Energy have become the last of the Big Six providers to lower prices, announcing moves to cut gas bills next month.

Centrica-owned British Gas said it will reduce gas prices by 5.1%, benefiting around 6.8 million customers, while rival EDF Energy is to bring down its standard gas tariff by 5%, making bills cheaper for around 900,000 customers.

The reductions follow announcements by rivals npower, SSE, E.ON and Scottish Power in recent weeks.

But the industry has been criticised for being slow to pass on falls in wholesale gas prices, with consumer groups hitting out at the size and timing of cuts.

Most of the recent reductions will not take effect until early spring.

The British Gas cut will take effect on March 16, while EDF is reducing its prices on March 24.

British Gas said customers will save on average £31 after the move.

It has already cut prices twice since the start of 2015 - in February and August - and said all three reductions together will bring average annual dual fuel energy bills down by £98.

The group has also reduced prices on its fixed tariffs that are open to new customers.

Its cut will not apply to older fixed tariffs no longer on sale, but confirmed customers can switch to current tariffs without charge.

EDF, whose cut will also save customers £31 on average, said costs “beyond our control” limited the size of its reduction.

Beatrice Bigois, managing director of customers at EDF Energy, said: “Our prices are under constant review and today’s announcement reflects falls in wholesale gas costs.

“There are other costs impacting customers’ energy bills that are beyond our control - these increased steadily during 2015.”

Rachel Fletcher, Ofgem’s senior partner for consumers and competition, said: “These price cuts are a movement in the right direction for loyal customers, but they are dwarfed by the savings available by switching from a standard tariff to a fixed deal.

“You could save more money, up to £300, faster by switching.”

Search hundreds of local jobs at Jobs24

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Ignorance will not be bliss for small firms if they find themselves falling foul of new data protection rules, businesses have been warned.

Consumer confidence has slipped to its lowest level since the month after the EU referendum, according to a survey.

Enterprise advisers from the Suffolk branch of multinational recruitment agency Adecco have won a national award for their work connecting the county’s schools and colleges with the world of work.

Ipswich Building Society has added further to its expanding range of mortgages with the launch of three new five-year fixed rate products, aimed at the Residential, Buy-to-Let and Shared Ownership markets.

A pub near Chelmsford which was taken over last year by Essex-born chef brothers Chris and Jeff Galvin has been named as the best in the East of England.

Management Jobs

Show Job Lists

Most read

Most commented

Topic pages

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24